British Retail Consortium (BRC) Retail Sales y/y reflect a change in the actual value (including VAT) of all retail goods sold in the UK in the given month compared to the same month of the previous year. The indicator is calculated by the British Retail Consortium. BRC unites all types of retailers, ranging from small shops to large retail chains and malls. The consortium controls and regulates the operation of the British retail industry and provides important statistical information. The calculation includes all the main categories of the British retail sector, except for motor fuel. Companies providing data for the indicator calculation generate 60% of the national retail turnover. To increase the objectivity of the indicator, retail outlets, which were opened or closed during the past year, are excluded from the sample.
The Retail Sales provide the accurate monthly indicator of consumer demand and trade efficiency in the UK. The weak point of the indicator is that only the total amount of consumer spending is measured, without taking into account changes in prices and VAT. For example, during periods of inflation, retail sales may stay the same, but the number of sales (real purchasing power) will decrease.
Since the value is compared with the same period of the previous year, no seasonal adjustment is applied. The value growth indicates an increase in consumer activity and can be seen as positive for the pound quotes.
The chart of the entire available history of the "BRC United Kingdom Retail Sales y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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